Thursday, November 26, 2020
Home News Reports Saradha Chit Fund Case: All you need to know why Mamata Banerjee is trying...

Saradha Chit Fund Case: All you need to know why Mamata Banerjee is trying to scuttle the CBI probe

Several senior TMC leaders are accused in the chit fund scam, apart from some Congress leaders

Kolkata witnessed an unprecedented series of events last night when a team of CBI officials were detained by the state police after they paid the police commissioner a visit to obtain crucial information regarding the Saradha scam.

The CBI claimed that the police had taken charge of all evidence and documents pertaining to the investigation and a lot of it had already been caused to be disappeared. Since then, the West Bengal Chief Minister has been sitting on a Dharna and the matter has reached the Court.

It is necessary to look back at the events that preceded the extraordinary step taken by the state police in order to understand their motivations for doing so.

The Saradha scam broke out into the open in 2013 when a ponzi scheme run by the Saradha Group, a consortium of over 200 private companies, collapsed after collecting hundreds and thousands of crores from over 15 lakh investors.

The Supreme Court had ordered a CBI probe into the matter in May, 2014 after pleas were filed by advocates Pratim Kumar Singha Ray, Abu Abbasuddin and Subrata Chattoraj. The Court considered the inter-state ramifications and the larger conspiracy angle in mind while delivering its verdict. It also directed the state agencies to assist the CBI in its investigation. The West Bengal government had opposed the CBI inquiry into the scam in the Court.

Senior leaders of the Trinamool Congress have been alleged to be intimately involved in the scam ever since the CBI initiated its investigation. In December 2014, state transport and sports minister, Madan Mitra, was arrested by the central investigative agency in connection with the scam. Mitra was accused of criminal conspiracy, cheating and misappropriation.

The TMC had then called it a criminal conspiracy as well despite the fact that two Rajya Sabha MPs, Kunal Ghosh and Srinjoy Bose, and party Vice-President Rajat Majumder were behind bars for their involvement in the scam as well.

Sudipto Sen, CEO and CMD of the Saradha Group, in a confessional letter to the CBI in 2013 made several claims with far-reaching political implications. In the letter, Sen claimed that he had not only paid hefty pay-out amounts to Trinamool leaders but also influential Congress leader in Assam Matang Sinh, and senior Congress leader P. Chidambaram’s wife Nalini Chidambaram.

Sen also submitted a list of 22 people who had “used” him to make money. The list reportedly contained the names of at least 5 political leaders. He also claimed that a business lobby close to TMC had “forced” him to undertake loss-making ventures.

After the events of last night, the Congress party, at least its central command, have come out in strong support of Mamata Banerjee, who they had once accused of looting the state. Recently, Nalini Chirambaram was charge-sheeted in the Saradha scam. According to the charges filed by CBI, Nalini Chidambaram had received ₹1.4 crore from Sudipta Sen, the prime accused in the case. CBI says that Nalini Chidambaram conspired with Sudipta Sen with an intention of cheating and misappropriation of funds. She took the amount of ₹1.4 crore between 2010 to 2014, according to the chargesheet.

If we consider the current state of the investigation into the scam, at least 4 senior Trinamool leaders have been arrested so far in connection with the scam. The wife of a senior Congress leader and former Union Minister, has been chargesheeted by the CBI as well.

To make matters worse for the TMC, the CBI also suspects that Sen had purchased Mamata’s paintings for huge sums of money. Recently, it was reported that the agency had questioned Manik Majumder in connection with the case who is believed to be a close aide of the Bengal CM. The CBI suspects that Majumder had knowledge about the purchase of paintings by Sen and that he is a key player in managing the funds of the party.

Desperate circumstances call for desperate measures. And the unprecedented actions of the West Bengal government yesterday may be seen in that light.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

After allowing Israelis to visit without visa, UAE stops issuing visas to citizens of 13 countries including Pakistan and Turkey

The decision of UAE to stop issuing visas to citizens of 13 countries is reported to have been taken due to security decisions.

Forgotten daughter of Uttarakhand: Before Nirbhaya, girl working in Delhi was kidnapped, raped and brutally murdered in Haryana

In February 2012, a 19-year-old girl from Delhi was abducted, gang-raped, brutalised and abandoned to die at a mustard field in Haryana

Law against ‘Love Jihad’ does not violate anyone’s fundamental rights: Smashing the ‘liberal’ arguments with truth

The readers must know that this is not a law against interfaith marriage or any marriage to begin with. Interfaith marriages are and will continue to be allowed in India.

Ex-Bollywood actress Zaira Wasim, who quit showbiz for Allah, asks fans to remove her pics

Zaira Wasim had earlier asked her fans to stop praising her as it is dangerous for her 'Iman'.

While Imran Khan continues his rants against Emmanuel Macron, Pakistan govt expects debt relief of around $300 million from France

Pakistani PM Imran Khan and Pakistan citizens have been dissing about France after Emmanuel Macron criticised radical Islam

When Sonia Gandhi trusted Ahmed Patel for conveying to PV Narasimha Rao’s family that his funeral will not be held in Delhi

Sanjaya Baru had said Ahmed Patel approached him to let PV Narasimha Rao's son know about Sonia Gandhi's message.

Recently Popular

Hyderabad elections: Owaisi makes ‘beef biriyani’ sly on BJP leaders, Raja Singh offers him pork biriyani

As an insult to BJP leaders, Owaisi had stated that they should have some biriyani at a particular hotel in Hyderabad that is famous for beef dishes.

How Congress lost Gujarat to save Ahmed Patel’s Rajya Sabha seat

The 2017 Gujarat Rajya Sabha elections which were contested by Ahmed Patel were one of the lowest points for Congress.

When Sonia Gandhi trusted Ahmed Patel for conveying to PV Narasimha Rao’s family that his funeral will not be held in Delhi

Sanjaya Baru had said Ahmed Patel approached him to let PV Narasimha Rao's son know about Sonia Gandhi's message.

Fact Check: Did Arfa Khanum Sherwani eat the goat she was petting in the photographs she posted?

Arfa Khanum Sherwani took social media by storm after she posted photographs of herself with a beautiful white goat.

‘Mark of religious oppression, caste superiority’: Newly elected MP in New Zealand, Gaurav Sharma, targeted for taking oath in Sanskrit

A journalist in New Zealand targeted newly elected New Zealand MP Gaurav Sharma for for taking his oath in Sanskrit.

Habitual offender Rehana Fathima given last warning by Kerala High Court after violating bail condition in ‘Gomatha’ cookery video

In the cookery video titled Gomatha Ularthu, Fathima kept referring to the meat as Gomatha. The High Court let her go giving her last opportunity to 'improve'.
- Advertisement -

After allowing Israelis to visit without visa, UAE stops issuing visas to citizens of 13 countries including Pakistan and Turkey

The decision of UAE to stop issuing visas to citizens of 13 countries is reported to have been taken due to security decisions.

Algerian-born Muslim cleric Abdul Nacer Benbrika stripped of his citizenship by Australia after convicted of terrorism

Benbrika was convicted of directing a terrorist group, and possessing material associated with planning of a terrorist attack in Australia

Fact-check: No, the government has not issued Rs.1,30,000 to the citizens towards Covid-19 funding

Fake message circulated claims that govt of India has issued Rs.1,30,000 to every citizen above the age of 18 as Covid-19 funding

Fact Check: Did Arfa Khanum Sherwani eat the goat she was petting in the photographs she posted?

Arfa Khanum Sherwani took social media by storm after she posted photographs of herself with a beautiful white goat.

Indian Navy inducts two American Predator drones on the lease, can be deployed on India-China border for surveillance

The Predator drones has been leased from a private company for one year, India plans to purchase 18 such drones from USA

Reservations for SC Christians: How it could affect the prospects of Dalit Hindus

There have been several calls for the inclusion of Dalit Christians in the reservation system meant for SC/St and OBC communities.

Forgotten daughter of Uttarakhand: Before Nirbhaya, girl working in Delhi was kidnapped, raped and brutally murdered in Haryana

In February 2012, a 19-year-old girl from Delhi was abducted, gang-raped, brutalised and abandoned to die at a mustard field in Haryana

UP: Woman given triple talaq for not bringing Rs 20 lakh and a car in dowry

The woman from Rampur has alleged that her husband and in-laws have been harassing her for not bringing Rs 20 lakhs and a car.

China comes to defend Pakistan after PM Modi accused the latter of harbouring terrorists

After PM Modi's remarks against Pakistan, China praised Pakistan for making positive contribution toward counter-terrorism cause

Cyclone Nivar is fast approaching Tamil Nadu, Puducherry and parts of Andhra: All you need to know

Cyclone Nivar is expected to his coastal states in next few hours, currently travelling at 11 KMPH, it may cause severe damage to houses, roads, crops, electricity and communications lines.

Connect with us

245,563FansLike
488,875FollowersFollow
20,200SubscribersSubscribe